Should car insurance go down?

corblimey

I was looking through my records this evening, and I notice that the monthly premium I'm being charged on my car insurance (renewed 1/5) is the same as I paid in January 2010, so my new car insurance would appear to be the exact same as last year's. Shouldn't my insurance go down as my no claims goes up? I know there would be a small increase from year to year, but to be paying the exact same monthly amount?

When I got the renewal quote, I did a quick search online to see if any could beat it, but I never checked last year's quote. I've since destroyed those papers.

slimjimmc

Insurance prices have been going up for the last few years, insurance companies lost fortunes on the stock market and winter storms/flooding which has a knock-on upward effect on premiums. I suspect the fact your quote was the same as last year simply shows that this year's increase has been counteracted by an improved ncb. It's always worth haggling for a better price.

af_thefragile

Yes indeed.
Just because you need to have insurance to drive doesn't mean the insurance companies can rip you off with how much ever quote they decide to charge you.

And yes they lost money and all but so did everyone else in the recession. Once again, the bankers are still enjoying their luxury lifestyle while we have to bear the brunt...

MagicMarker

Insurance companies should offer rebates for good customers. I've spent about €10k of car insurance and haven't claimed a penny back.

Seth Brundle

af_thefragile wrote: »

Just because you need to have insurance to drive doesn't mean the insurance companies can rip you off with how much ever quote they decide to charge you.

erm, yes it does! If you don't like the price they quote you then go elsewhere but as we all know, insurance prices are nonsense in Ireland as there doesn't appear to be much logic behind the quote prices.

bonzodog2

Generally it goes down as you progress through the no-claims stepladder. But it also goes down as your age increases, and your driving experience. But it also goes up, as the cost of claims (across all customers, and also your particular demographic) increases.
Also when you change your car, or named drivers, this has an effect.

Top Tip: SHOP AROUND AT RENEWAL TIME

zielarz

MagicMarker wrote: »

Insurance companies should offer rebates for good customers. I've spent about €10k of car insurance and haven't claimed a penny back.

Insurance shoud not be compulsory. I don't see a reason why you are forced to buy insurance. Careful and responsible drivers are losing a lot of money because of this silly law. Imagine, for that 10k you'd be able to buy a decent car today..

af_thefragile

It looks like a good idea to have an accident or two every few years so that you can get back some of the ridiculous amounts of money you're paying to the insurance guys.

I'm paying 2500eur insurance on my banger. Its more than my car is worth. And its not like I didn't shop around. Most wouldn't even insure me. Out of the few who would, this was the best.
Its absolutely ridiculous... I'ld rather be driving without insurance and in the event of a crash pay from my pocket to repair it. But for the law...

Really insurance shouldn't be compulsory. If someone feels they have an expensive car which they couldn't afford getting banged up, then they can go ahead and take insurance on it.
But its absolutely insane paying loads of money to insure a banger just because you have to as the law says it.

All the insurance companies end up forming cartels and start charging people whatever bollocks they like.

bladebrew

zielarz wrote: »

Insurance shoud not be compulsory. I don't see a reason why you are forced to buy insurance. Careful and responsible drivers are losing a lot of money because of this silly law. Imagine, for that 10k you'd be able to buy a decent car today..

oh god, afaik there are countries where insurance isnt compulsory but these tend to be developing countries that may be terrible places to live,

are you of the troll variety?

bonzodog2

af_thefragile wrote: »

It looks like a good idea to have an accident or two every few years so that you can get back some of the ridiculous amounts of money you're paying to the insurance guys.

I'm paying 2500eur insurance on my banger. Its more than my car is worth. And its not like I didn't shop around. Most wouldn't even insure me. Out of the few who would, this was the best.
Its absolutely ridiculous... I'ld rather be driving without insurance and in the event of a crash pay from my pocket to repair it. But for the law...

Really insurance shouldn't be compulsory. If someone feels they have an expensive car which they couldn't afford getting banged up, then they can go ahead and take insurance on it.
But its absolutely insane paying loads of money to insure a banger just because you have to as the law says it.

All the insurance companies end up forming cartels and start charging people whatever bollocks they like.

>>Its more than my car is worth
The value of your car bears no relation to the insurance company's risk WRT other road users

af_thefragile

^So then why do yo have to pay more for a Porsche or a Ferrari than you'ld pay for say an Audi?

Yeah, I know I get it, because I'm first time driver, I'm more likely to hit someone else and all that crap. Which actually is a load of crap. I think I drive more carefully than most other people out there. I follow all the rules and everything while most other people drive all over the place. And don't get me talking about old people.
Also how come girls have to pay much lesser than guys? Most girls I know are much worse drivers than me.
It just makes no sense. Its just insurance companies trying to find aspects to rip people off.
Also just because my car is 10 years old, I've gotta pay 300eur more for my insurance. How does that work?!
What does the age of my car has anything to do with how likely I'm gonna crash into someone? That's what an NCT is there for now isn't it?!

bladebrew wrote: »

oh god, afaik there are countries where insurance isnt compulsory but these tend to be developing countries that may be terrible places to live,

are you of the troll variety?

The driving standards in those countries is bad because of the poor driving learning and testing system.

Its not because of the insurance. If people didn't have insurance, they'ld be driving more carefully because any damage they do to the car, they'ld have to pay it from their own pockets.

This way the careful drivers will get to keep their money while the careless drivers will have to pay from their own pockets.

bonzodog2

I'd imagine the insurance for
Porsche/Ferrari/Audi R8 wouldn't be that different
but an A4/A3 would be cheaper

You're not getting the point here
It's about the risk of you doing damage to other people (including your passengers), their lives, cars, and other property

Did you ever lose someone in a car accident ? I have, twice.

Maybe you should go and wait for some of those road safety ads on the TV, that I can't watch anymore

Sorry if I'm coming on strong here, but get real.

Enough already for tonite.

Drive safe.

af_thefragile

bonzodog2 wrote: »

I'd imagine the insurance for
Porsche/Ferrari/Audi R8 wouldn't be that different
but an A4/A3 would be cheaper

You're not getting the point here
It's about the risk of you doing damage to other people (including your passengers), their lives, cars, and other property

Did you ever lose someone in a car accident ? I have, twice.

Maybe you should go and wait for some of those road safety ads on the TV, that I can't watch anymore

Sorry if I'm coming on strong here, but get real.

Enough already for tonite.

Drive safe.

I still don't get how me paying more insurance for my car is going to make me any safer on the road...

I'm sorry for your loss. But then again how can an insurance company compensate for the loss of a person? The most they do is pay for the damage to the car if it wasn't your fault.

All insurance companies are doing out there is taking advantage of a law to make money instead of providing a service whereby people can drive around safely.

There always has been a risk when you get into a car. Its no different from there's always a risk of crashing when you get in a plane. You can't live a 100% risk free life. Accidents will continue to happen no matter what. Its all a part of being human.

Until a system is introduced where all cars are controlled by a computer and they drive around in a synchonised system, people are going to crash into other cars and sometimes unfortunately lives will also be lost.

Anyway, I'm just ranting here now.
I just don't like the way the insurance quotes here in Ireland make no sense. It always feels like a rip off. I need the car to get around because the buses take wayy too long and they're never on time. I'm already paying a lot for fuel and maintenance on my car. Paying a ridiculous amount of money on top of that for insurance just makes me bitter.

R.O.R

af_thefragile wrote: »

The driving standards in those countries is bad because of the poor driving learning and testing system.

Do you think they allow people to just jump in a car by themselves, with no previous driving experience? Perhaps even allow them to drive home by themselves after failing a basic competency test.

Maybe some of the "licenced" drivers in these developing countries were just handed their licences because it was too much hassle to test them. These same drivers could now legally be accompanying learners and passing on all their wisdom.

Glad no such thing could ever happen in Ireland..........................

guil

why on earth would anyone think insurance shouldnt be compulsary, yeah it would be great to save a bit durin the year but what happens when ya seriosly injure someone and cant afford to cover the cost of anytreatment they need, ah sure just fook them aside,
grow up ffs

TestTransmission

af_thefragile wrote: »

Yeah, I know I get it, because I'm first time driver, I'm more likely to hit someone else and all that crap. Which actually is a load of crap. I think I drive more carefully than most other people out there.

Yes,you're the greatest driver in the world with all your driving experience behind you.

Trampas

Some people don't really understand how insurance work.

For all those who think they would rather pain for the claim out of their own pocket. Imagine causing an accident which requires somebody needing care for the rest of their lives. Are you going to pay for that? Could cost millions.

People think it is just to rebuild a car. Rebuilding cars is the cheap end of the claim

Seth Brundle

af_thefragile wrote: »

I still don't get how me paying more insurance for my car is going to make me any safer on the road...

It isn't designed to make you safer. Its based on risk and they reckon that you are a higher risk driver and charge you accordingly.

af_thefragile wrote: »

I'm sorry for your loss. But then again how can an insurance company compensate for the loss of a person? The most they do is pay for the damage to the car if it wasn't your fault.

What if the person is long term injured? What is their car is a veyron? What is siginficant damage was done to someone's house or to the street furniture?

af_thefragile wrote: »

All insurance companies are doing out there is taking advantage of a law to make money instead of providing a service whereby people can drive around safely.

Its not their job to provide a service where people drive safely. Its their job to provide insurance cover.
Anyway, if you don't like it then don't get insured and see how easy it is to fight tha powah!

af_thefragile wrote: »

There always has been a risk when you get into a car. Its no different from there's always a risk of crashing when you get in a plane. You can't live a 100% risk free life. Accidents will continue to happen no matter what. Its all a part of being human.

But to provide financial cover based on risk requires the higher risks to contribute more into the pot.

af_thefragile wrote: »

Until a system is introduced where all cars are controlled by a computer and they drive around in a synchonised system, people are going to crash into other cars and sometimes unfortunately lives will also be lost.

Will these be Microsoft Windows based cars? Will they be able to identify jaywalkers? Will they be able to control skids on ice and snow, etc.? Will they always work perfectly?

af_thefragile wrote: »

Anyway, I'm just ranting here now.
I just don't like the way the insurance quotes here in Ireland make no sense. It always feels like a rip off. I need the car to get around because the buses take wayy too long and they're never on time. I'm already paying a lot for fuel and maintenance on my car. Paying a ridiculous amount of money on top of that for insurance just makes me bitter.

We can appreciate you being bitter but get the facts straight first.

PCPhoto

zielarz wrote: »

Insurance shoud not be compulsory. I don't see a reason why you are forced to buy insurance. Careful and responsible drivers are losing a lot of money because of this silly law. Imagine, for that 10k you'd be able to buy a decent car today..

without compulsory insurance we'd all be driving uninsured and in the event of an accident the amount paid in claims would be 10-fold what it currently is.

PCPhoto

af_thefragile wrote: »

I still don't get how me paying more insurance for my car is going to make me any safer on the road...

Because (in theory) if you have to spend a lot of money on something you will want to take care of it.

af_thefragile wrote: »

Anyway, I'm just ranting here now.
I just don't like the way the insurance quotes here in Ireland make no sense. It always feels like a rip off. I need the car to get around because the buses take wayy too long and they're never on time. I'm already paying a lot for fuel and maintenance on my car. Paying a ridiculous amount of money on top of that for insurance just makes me bitter.

I partially agree with you that insurance companies in this country are ripping people off, but the people are ripping people off too - compo culture is massive.

I think that insurance should be a flat fee - regardless of sex/age starting off... EVERYONE should be restricted to a 1L engine for the first 2yrs of having a full licence and should not be allowed to have a vehicle bigger than 1.4L until they have more then 5yrs driving experience..... if you cause a crash during the initial 5yr period you should be put back to the start... anyone over 5yrs can drive unrestricted - for a flat fee, but being involved in a crash will return to stage 1.

after 7/8yrs, drivers are given the option of taking an assessment - which would result in reduced premiums, you should only be allowed to sit an assessment every 2yrs upto a maximum of 5times - passing an assessment means in the event of a crash you return to X-point in driving cycle, passing the assessment 5times allows you to drive on a very very low premium (ie €100 or something)

this system allows drivers to aim for extremely cheap insurance premiums by driving safely.

All vehicles should be fitted with tachographs and in the event of an accident (ONLY) the tachograph will be used to determine the actual speed at time of impact - failure to have a working tachograph is serious road law breach and results in heavy fine etc.
Failure to have insurance - immediate car confiscation and court appearance - serious fine and possibly jail time for repeat offenders.

I could go on and on ...but its all common sense and allows insurance companies to make money....and drivers to aim for really affordable driving premiums - good drivers dont suffer increased premiums

slimjimmc

zielarz wrote: »

Insurance shoud not be compulsory. I don't see a reason why you are forced to buy insurance. Careful and responsible drivers are losing a lot of money because of this silly law. Imagine, for that 10k you'd be able to buy a decent car today..

I think you'd change your tune if you ended up horribly disabled and in need of full time medical attention for the rest of your life, or you were the one being sued to pay for injuries you caused to someone else. Compulsary insurance is not to pay for your car it's to compensate others for your cockups, even careful drivers cockup too once in a while.

ShadowHearth

slimjimmc wrote: »

Insurance prices have been going up for the last few years, insurance companies lost fortunes on the stock market and winter storms/flooding which has a knock-on upward effect on premiums. I suspect the fact your quote was the same as last year simply shows that this year's increase has been counteracted by an improved ncb. It's always worth haggling for a better price.

i wouldn not agree with that, insurance companies just chancing...

i got a qoute for mine mx5 1k eu 2 weaks ago ( i was paying 1.2k), then i just tryed 123.ie and got a qoute of 800eu, so came back to mine insurance and they dropped the qoute to 700eu, 500eu droped in 1 year...

anather example:

me: " hello, i got insurance with you, but i am planing to buy a skyline, how much it will be extra?"
insurance: " sorry you have to be 30 years old to insure that"
me(after 2 weaks when i bought skyline): hello, i just whant to update mine policy, i bought new car, its a skyline with mods"
insurance:" okay, no problem that will be just 20eu extra per month"

If you dont shop around, or even talked to them, your insurance will be all over the shop...

B00MSTICK

Just to reiterate the "insurance covers injuries to other people" point.

This is one of the main reasons why insurance for males is alot more than females.

Forgive me I've lost the source of this info, but I've posted it before so its probably somewhere.

Females have more minor accidents then men i.e tips in car parks/low speed impacts etc. now often times people don't go through insurance for this and there is rarely physical damage to any person. A girl is far less likely to overtake in a possibly dangerous situation. Obviously it does happen on occasion but its quite rare.

Males however don't have as many little tips because lets face it we're better drivers (:P) we do however end up in high speed/head on/serious/fatal crashes alot more often. This leads to huge personal injury claims from both parties as well as the vehicle damage.

Insurance companies have to work with facts and stats.
The fact is, young inexperienced male drivers cost them the most in payouts.

Eoin

kbannon wrote: »

erm, yes it does! If you don't like the price they quote you then go elsewhere but as we all know, insurance prices are nonsense in Ireland as there doesn't appear to be much logic behind the quote prices.

I've checked the UK sites, who have a far bigger market in which to spread around the risk, a number of times to get comparative quotes. Not only is my current quote competitive, it is generally cheaper than the UK.

corblimey - you didn't even shop around when it came to renewal time?

Eric Cartman

some insurance company should provide insurance for 'bangers' in which theres no cover for your car whatsoever, only cover for damage to other peoples property/ cars/ other people, with a high excess of say 1000 euro and no difference based on the car you drive

TestTransmission

Eric Cartman wrote: »

some insurance company should provide insurance for 'bangers' in which theres no cover for your car whatsoever, only cover for damage to other peoples property/ cars/ other people, with a high excess of say 1000 euro and no difference based on the car you drive

Eh,you mean 3rd party insurance?

CoDy1

There is, its called Third Party Only cover and most insurance companies will give you an option on whether you want to increase your excess from the standard.

Eric Cartman

TestTransmission wrote: »

Eh,you mean 3rd party insurance?

3rd party still takes into account the car your driving, but i accept your point, neither quinn nor the broker i went to offered it on private policies

guil

Eric Cartman wrote: »

3rd party still takes into account the car your driving, but i accept your point, neither quinn nor the broker i went to offered it on private policies

no it doesnt, thats 3rd party fire and theft, 3rd party only solely covers damage to someone else or someones property

Eric Cartman

guil wrote: »

no it doesnt, thats 3rd party fire and theft, 3rd party only solely covers damage to someone else or someones property

it varies by what car your driving, has nothign to do with the car but third party in an astra doesnt cost the same as 3rd party in a skyline

Gitb1

Thats because the risk of causing an accident in a skyline is higher than in an astra not becasue its worth more

MagicMarker

Gitb1 wrote: »

Thats because the risk of causing an accident in a skyline is higher than in an astra not becasue its worth more

How is it higher?

Gitb1

MagicMarker wrote: »

How is it higher?

Seriously?

Most astras are 1.4 or 1.6 petrol or iirc 1.7 diesel. R34 skylines come in 2.0 2.5 and 2.6 petrols so are quite considerably quicker than astras.

Theres also a lot less skylines in Ireland and a lot more astras so I can guarantee a much higher percentage of skylines are wrote off.

Thats why there deemed a higher risk amongst other reasons

MagicMarker

Gitb1 wrote: »

Seriously?

Most astras are 1.4 or 1.6 petrol or iirc 1.7 diesel. R34 skylines come in 2.0 2.5 and 2.6 petrols so are quite considerably quicker than astras.

Theres also a lot less skylines in Ireland and a lot more astras so I can guarantee a much higher percentage of skylines are wrote off.

Thats why there deemed a higher risk amongst other reasons

Seriously? They're faster so they're a higher risk?

So if I drive an Astra on Monday and a Skyline on Tuesday, I'm more likely to crash on Tuesday?

Doesn't exactly make sense, does it?

Is it the car that makes me crash, or is it me?

Eric Cartman

Gitb1 wrote: »

Seriously?

Most astras are 1.4 or 1.6 petrol or iirc 1.7 diesel. R34 skylines come in 2.0 2.5 and 2.6 petrols so are quite considerably quicker than astras.

Theres also a lot less skylines in Ireland and a lot more astras so I can guarantee a much higher percentage of skylines are wrote off.

Thats why there deemed a higher risk amongst other reasons

ok well lets take a figaro (awful yokes) and a 320d bmw , tonnes of the bmw's , handful of figaros, ignoring top speed, they have a not too different power to weight ratio yet an 18 year old male would have to bend over to pay the 320's insurance even though hes no more likely to crash the bmw and theres f*ck all figaros in ireland and theres an e36 round every corner

Gitb1

Eric Cartman wrote: »

ok well lets take a figaro (awful yokes) and a 320d bmw , tonnes of the bmw's , handful of figaros, ignoring top speed, they have a not too different power to weight ratio yet an 18 year old male would have to bend over to pay the 320's insurance even though hes no more likely to crash the bmw and theres f*ck all figaros in ireland and theres an e36 round every corner

I understand where your coming from but if you were to look at a list of claims made by 17-23 year old males there would be more claims made on 3 series bmws than there is by lads driving figaros.

Seriously? They're faster so they're a higher risk?

Yes, and I'd say that the majority people would agree